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Gilbert Arizona home values by zip code

By
Real Estate Agent with HomeSmart License # SA577557000

Gilbert Arizona home values by zip code.  I retained this information from our local newspaper, and thought this could be valuable to not only those of you looking to buy a home in Gilbert, but also for those of you looking to sell.

NEW HOME SALES:

Gilbert Zip Code Median Home Value 2009 Percentage Change 2008-2009 Percentage Change 2004-2009
85295 $180,804 -21.4% -12.9%
85296 $251,140 11.6% 48.8%
85297 $240,000 -7.1% 19.0%
85298 $244,268 -22.9% 11.9%


As far as new home sales go, there was a loss in median price of all but one zip code between the year 2008 and 2009.  However, in zip codes 85296, 85297, and 85298, there has been an increase in median home values since 2004.  That's a pretty good sign that new homes in Gilbert are maintaining their value, and even increasing over the years.

NEW AND EXISTING HOMES:

Gilbert Zip Code Overall Median Home value 2009 Best year for price gains Percentage Change 2008-2009 Percentage Change 2004-2009
85233 $187,000 2005 -20.3% -2.6%
85234 $189,000 2005 -23.8% -6.9%
85295 $182,500 2005 -20.6% -17.5%
85296 $188,000 2005 -16.5% -0.5%
85297 $212,808 2005 -14.5% 5.6%
85298 $249,085 2005 -17.9% 11.9%


Another good sign that Gilbert is doing okay, all things considered, is that in zip codes 85297 and 85298, they have had an increase in median home value since 2004.  Yes, they all had a decrease between 2008 and 2009, but the decrease experienced in Gilbert wasn't as much as other cities like Mesa, Glendale, and Phoenix, which all had percentage decreases over 40 percent in some of their zip codes.  The overall median home values are still over $200,000 in zip codes 85297 and 85298 as well.

The Gilbert home values by zip code shows that Gilbert is doing much better than a lot of the other cities in Maricopa County.  Hopefully this information is valuable to those of you looking to buy or sell in Gilbert.

 

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         Contact Troy Erickson, Realtor®, Good Company Real Estate

Licensed Residential Realtor® in Arizona at 602-295-6807

 

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This post is for informational purposes only and should not be construed as legal advice. If you desire specific legal or tax advice, please consult the appropriate professional. The opinions expressed here represent my own and not those of my employer. Troy Erickson will not be held liable for any errors, ommissions, accuracy, validity, currentness, suitability, completeness; or any losses, injuries or damages arising from its display or use.

Comments (20)

Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Very informative report . thanks for sharing it with us. . have a great weekend!

Mar 27, 2010 02:28 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Fernando - Thanks for stopping by.  I often read your posts, and amazed at your knowledge.

Mar 28, 2010 05:27 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Troy nice job recapping the market stats for your area. The drops are not nearly as bad as some states!

Apr 01, 2010 11:36 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Bill - This is one of the good cities in Arizona.  Believe me, some of the zip codes had drops of over 40%, and that is just from last year to this year.  That doesn't include 2006 or 2007.

Apr 02, 2010 02:30 PM
Debra Kukulski, Broker Associate
RE/MAX Suburban - Cary, IL
SRES;SFR,CDPE;GRI;ABR;e-PRO Realtor, Northern IL

Hi Troy, it is great you are seeing some positive news in your market.   I hope the new HAFA program will help move the distressed properties off the market a little more quickly.  Have a great day:-)

Apr 07, 2010 02:51 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Debra - Yes, I have a feeling there are still going to be a lot of distressed properties over the next few years.  Things in Gilbert and Chandler, however, are not as bad as other areas nearby.

Apr 08, 2010 09:43 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

It's so beautiful to see POSITIVE changes in our distressed worlds.  I am with you and agree, we will be seeing distressed properties coming on the market for years to come.  We are just fortunate to have buyers gobbling it up right now.

Apr 09, 2010 09:48 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Renee - Yes, we are experiencing a lot of transactions here in Arizona.  2009 was one of our best years ever.

Apr 10, 2010 09:33 AM
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Troy, always enoy viewing infomation on other communities..Thanks for sharing with us in AR Land.

May 23, 2014 03:58 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

You sure do have a good handle on your market. Very detailed report and easy to understand.

Thank you for commenting on my post.

May 23, 2014 04:25 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks Joe for such kind words. I really do try to be the expert in my area, and take a lot of pride in knowing what is going on with the real estate market.

May 23, 2014 02:49 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Ronald, it is interesting to learn about what is going on in other markets throughout the country. Thanks for the comment.

May 23, 2014 02:50 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the information. You always provide good information about your real estate market. Home buyers and sellers in your area should call you to be their agent.

Sep 04, 2014 09:10 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you so much Gita for the kind words. I try to stay on top of what is going on in my market.

Sep 05, 2014 01:44 AM
Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

Hi Troy - great local information about your market, and thank you for sharing it. I am sure your readers must appreciate the content.

Sep 15, 2014 03:32 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks Sharon, hopefully buyers and sellers in my area feel that this information is beneficial.

Sep 15, 2014 03:47 PM
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

This is a great way to craft a market report....by zipcode.  Thanks for the information and I know that many people will love being able to reference this in this way!

Sep 25, 2014 06:59 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

This information was provided by the local newspaper. It was trying to show how even by 2009, Gilbert was on the way to recovery from the housing bubble.

Sep 25, 2014 07:15 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I really like this idea to post an average price for zip codes or cities. As you know, L.A. city has tons of small cities in it, and when a buyer out of state asks me about average price for L.A. house, I simply can not answer:)

Nov 03, 2014 03:19 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Inna - Yes, and the average price in one area can be a lot higher or lower than another. Glad you liked this idea, and hopefully got something out of it.

Nov 03, 2014 12:43 PM